Pi Network Holders Double Down as Market Hits New Lows
Despite Pi Coin’s slide to an all-time low of $0.32 this month, a section of its community is locking away millions of tokens instead of selling.
Fresh data shows over 3.3 million PI were voluntarily locked in a single day, a move many see as a show of long-term confidence in the project.
This commitment follows Pi Network’s decision to slash its mining rate to its lowest level yet, part of a strategy to slow token inflation. At the same time, August began with more than 19 million PI entering circulation, continuing July’s heavy unlock trend that had already pressured prices.
The market reaction has been mixed. While the reduced token flow could eventually limit selling pressure, immediate sentiment remains weak. PI is struggling to hold above $0.35, with $0.32 acting as a fragile support zone. Network issues haven’t helped—over half of all transactions are currently failing, and activity has fallen from previous months.
Whale movements are drawing attention, too. One large wallet has quietly accumulated about 350 million PI, making it the biggest non-foundation holder. Analysts suggest this kind of buying could soften the impact of upcoming token unlocks.
Still, Pi Coin’s fate is closely tied to the wider crypto market. With figures like Robert Kiyosaki and Arthur Hayes warning of a possible August downturn in Bitcoin, traders remain cautious. A major BTC drop could easily pull PI lower before any recovery takes hold.
